Career and Education Opportunities for Income Tax Advisors in Columbus, Ohio
Many educational and employment opportunities exist for income tax advisors in the Columbus, Ohio area. There are currently 3,770 working income tax advisors in Ohio; this should shrink 16% to 3,170 working income tax advisors in the state by 2016. This is not quite as good as the national trend for income tax advisors, which sees this job pool growing by about 2.9% over the next eight years. Income tax advisors generally prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
A person working as an income tax advisor can expect to earn about $13 per hour or $27,100 per year on average in Ohio and about $14 hourly or $29,420 yearly on average in the U.S. as a whole. Incomes for income tax advisors are not quite as good as in the overall category of Accounting and Auditing in Ohio, and not quite as good as the overall Accounting and Auditing category nationally. Income tax advisors work in a variety of jobs, including: corporate tax preparer, tax consultant, and tax preparer.
There are six schools within twenty-five miles of Columbus where you can study to be an income tax advisor, among sixty-three schools of higher education total in the Columbus area. Given that the most common education level for income tax advisors is a high school diploma or GED, you can expect to spend only a short time studying to be an income tax advisor if you already have a high school diploma.
CAREER DESCRIPTION: Income Tax Advisor
In general, income tax advisors prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
Income tax advisors ready or help in preparing simple to complex tax returns for individuals or small businesses. They also use all appropriate adjustments and credits to keep clients' taxes to a minimum. Equally important, income tax advisors have to inspect financial records such as income statements and documentation of expenditures to establish forms needed to ready tax returns. They are often called upon to consult tax law handbooks or bulletins to establish processes for preparation of atypical returns. They are expected to compute taxes owed or overpaid, using computers and complete entries on forms, following tax form instructions and tax tables. Finally, income tax advisors furnish taxpayers with sufficient data and advice to insure correct tax form completion.
Every day, income tax advisors are expected to be able to see details at a very fine level of focus. They need to read and understand documents and reports. It is also important that they deal with basic arithmetic problems.
It is important for income tax advisors to check data input or verify totals on forms prepared by others to uncover errors in arithmetic or procedures. Somewhat less frequently, income tax advisors are also expected to calculate form preparation fees in line with return complexity and processing time required.
They also have to be able to interview clients to obtain additional data on taxable income and deductible expenses and allowances And finally, they sometimes have to inspect financial records such as income statements and documentation of expenditures to establish forms needed to ready tax returns.
Like many other jobs, income tax advisors must have exceptional integrity and be thorough and dependable.
Similar jobs with educational opportunities in Columbus include:
- Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
- Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
- Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
- Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
- Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
- Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
- Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
- Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
- Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
- Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
- Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
- Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
EDUCATIONAL OPPORTUNITIES: Income Tax Advisor Training
Capital University - Columbus, OH
Capital University, 1 College and Main, Columbus, OH 43209-2394. Capital University is a small university located in Columbus, Ohio. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,632 students and an admission rate of 77%. Capital University has a master's degree program in Taxation which graduated seven students in 2008.
Columbus State Community College - Columbus, OH
Columbus State Community College, 550 E Spring St, Columbus, OH 43215. Columbus State Community College is a large college located in Columbus, Ohio. It is a public school with primarily 2-year programs and has 24,203 students. Columbus State Community College has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated sixteen and twenty-nine students respectively in 2008.
Ohio University-Lancaster Campus - Lancaster, OH
Ohio University-Lancaster Campus, 1570 Granville Pike, Lancaster, OH 43130-1037. Ohio University-Lancaster Campus is a small university located in Lancaster, Ohio. It is a public school with primarily 4-year or above programs and has 1,868 students. Ohio University-Lancaster Campus has an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated eight students in 2008.
Bradford School - Columbus, OH
Bradford School, 2469 Stelzer Road, Columbus, OH 43219. Bradford School is a small school located in Columbus, Ohio. It is a private for-profit school with primarily 2-year programs and has 362 students. Bradford School has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated zero and eleven students respectively in 2008.
TechSkills-Columbus - Columbus, OH
TechSkills-Columbus, 2400 Corporate Exchange Dr Ste 270, Columbus, OH 43231. TechSkills-Columbus is a small school located in Columbus, Ohio. It is a private for-profit school with primarily less-than 2-year programs and has 74 students. TechSkills-Columbus has a less than one year program in Accounting Technology/Technician and Bookkeeping.
Daymar College - Lancaster, OH
Daymar College, 1579 Victor Rd., Lancaster, OH 43130-1368. Daymar College is a small college located in Lancaster, Ohio. It is a private for-profit school with primarily 2-year programs and has 58 students. Daymar College has an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated one student in 2008.
Accredited Tax Advisor: This credential is for practitioners who handle sophisticated tax planning issues, including ownership of closely held businesses, qualified retirement plans and complex estates.
For more information, see the Accreditation Council for Accountancy and Taxation website.
LOCATION INFORMATION: Columbus, Ohio
Columbus is located in Franklin County, Ohio. It has a population of over 754,885, which has grown by 6.1% in the past ten years. The cost of living index in Columbus, 82, is well below the national average. New single-family homes in Columbus cost $169,200 on average, which is well below the state average. In 2008, six hundred eighty-six new homes were constructed in Columbus, down from 1,008 the previous year.
The three big industries for women in Columbus are health care, educational services, and finance and insurance. For men, it is accommodation and food services, professional, scientific, and technical services, and construction. The average travel time to work is about 22 minutes. More than 29.0% of Columbus residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.2%, is higher than the state average.
The unemployment rate in Columbus is 8.5%, which is less than Ohio's average of 10.0%.
The percentage of Columbus residents that are affiliated with a religious congregation, 37.6%, is less than both the national and state average. Hebrew Baptist Church, Heritage Temple Freewill Baptist Church and Higher Ground Always Abounding Assembly Church are all churches located in Columbus. The largest religious groups are the Catholic Church, the United Methodist Church and the Evangelical Lutheran Church in America.
Columbus is home to the Busch Corporate Center Industrial Park and the J C Penney Catalog Outlet Store as well as Nafzger Park and Lower Scioto Park. Shopping centers in the area include Indianola Shopping Center, Ohio Stater Mall Shopping Center and Shapter Shopping Center. Visitors to Columbus can choose from Drury Inn & Suites Convention Center, Best Western Clarmont Inn and Crowne Plaza Downtown for temporary stays in the area.